M A I N   N E W S

Mukesh Ambani says he is final authority in RIL
Tribune News Service

Mumbai, November 23
Mukesh Ambani, Group Chairman and Managing Director, Reliance Industries Ltd, in an email message to all employees of the group said he was “the final authority” on all matters concerning the company.

“There is no ambiguity in his (late father Dhirubhai Ambani’s) legacy that C and MD is the final authority on all matters concerning Reliance,” the e-mail message said. Reliance employees have been forwarding this message to the media as well.

“Our founder-Chairman late Dhirubhai Ambani had taken all necessary steps to separate ownership from management and had settled all issues during his lifetime,” Mukesh has been quoted as saying.

Despite reports by a news agency, his brother Anil Ambani is yet to react to Mukesh’s statements to the media.

There is no word as yet about what transpired at the family meeting held yesterday at the Ambani’s Seawind building in South Mumbai’s Cuffe Parade.

The two brothers and sisters Dipti Salgaocar and Nina Kothari held a meeting on the ‘ownership issues’ with their mother Kokilaben.

The two sisters have since left Mumbai, according to sources.

Anil Ambani is likely to issue a statement tomorrow to present his side of the story, according to a UNI report.

Director quits

Meanwhile Reliance Industries Ltd’s Director M.L. Bhakta has resigned from the board, according to a PTI report.

Bhakta was on the board of the company since 1977, company sources said here today.